Property Overview: 518 Oakdale Drive, Winnipeg
Key Characteristics & Appeal
This 1971-built bi-level home sits on an exceptionally large, approximately 15,700 sqft lot in the Eric Coy neighbourhood. Its primary appeal lies in the rare combination of a very spacious, private yard and a home with a finished basement, offering flexible living space. With 1,200 sqft of living area, it provides solid room for a family.
The property’s standout feature is its land. The lot size ranks in the top 2% across all of Winnipeg, suggesting a level of outdoor space and potential that is increasingly uncommon. This is complemented by strong value metrics, as the home’s assessed value places it in the top 21% city-wide, indicating it is viewed as a substantial asset relative to many others.
This home would suit buyers who prioritize outdoor space for gardening, recreation, or future projects over having a brand-new house. It’s a practical choice for families or those seeking a long-term home where the land itself is a major investment. The bi-level design with a finished basement also suits those looking for defined separate living zones or potential for a suite.
Frequently Asked Questions
Q: How does the age of the home (built in 1971) factor into its value?
A: While not new, the home’s assessed value ranks highly, suggesting its condition, updates, and particularly its lot size significantly outweigh age as a concern. It represents an opportunity to own a large property without the premium of a new build.
Q: What does the lot size ranking actually mean for me?
A: Being in the top 2% for lot size in Winnipeg means you are getting a property attribute that is scarce and cannot be replicated in most newer subdivisions. It offers unparalleled privacy, space for additions, and long-term property value tied to land.
Q: Is the finished basement included in the 1,200 sqft living area?
A: Typically, living area (sqft) refers to above-grade space. The finished basement is additional, flexible square footage that adds to the home’s functional space but is often not counted in the official living area figure.
Q: Who would this property NOT be ideal for?
A: It may not suit buyers seeking a modern, open-concept layout without any renovation projects, or those who prefer a low-maintenance yard. The appeal here is for those who see potential and value in space and land.
Q: The home ranks lower for size within its own community. Is that a concern?
A: Not necessarily. It indicates there are larger houses in Eric Coy, but this property compensates with a lot size that ranks much higher. It’s a trade-off: you’re getting a massive yard instead of a maximized house footprint.